Radius Recycling (NASDAQ:RDUS) Releases Earnings Results, Beats Estimates By $0.05 EPS

Radius Recycling (NASDAQ:RDUS - Get Free Report) posted its earnings results on Thursday. The basic materials company reported ($1.04) earnings per share for the quarter, beating the consensus estimate of ($1.09) by $0.05, Briefing.com reports. The business had revenue of $621.06 million for the quarter, compared to analyst estimates of $626.35 million. Radius Recycling had a negative net margin of 0.88% and a positive return on equity of 1.97%. The business's quarterly revenue was down 17.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 EPS.

Radius Recycling Stock Up 1.9 %

Radius Recycling stock traded up $0.37 during trading hours on Friday, hitting $19.98. The company had a trading volume of 221,972 shares, compared to its average volume of 199,137. The firm has a market capitalization of $556.64 million, a P/E ratio of -21.26 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.75 and a quick ratio of 0.83. The firm's fifty day moving average is $21.95 and its 200-day moving average is $25.03. Radius Recycling has a fifty-two week low of $17.04 and a fifty-two week high of $36.64.

Radius Recycling Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 22nd will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, April 19th. Radius Recycling's dividend payout ratio is presently -79.79%.

Institutional Trading of Radius Recycling

Hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC acquired a new stake in shares of Radius Recycling during the 1st quarter worth about $246,000. Meeder Asset Management Inc. increased its position in Radius Recycling by 125.5% in the 4th quarter. Meeder Asset Management Inc. now owns 7,306 shares of the basic materials company's stock valued at $224,000 after acquiring an additional 4,066 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in Radius Recycling in the 4th quarter valued at about $220,000. PNC Financial Services Group Inc. increased its position in Radius Recycling by 7.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,698 shares of the basic materials company's stock valued at $144,000 after acquiring an additional 328 shares in the last quarter. Finally, US Bancorp DE increased its position in Radius Recycling by 53.4% in the 1st quarter. US Bancorp DE now owns 2,339 shares of the basic materials company's stock valued at $121,000 after acquiring an additional 814 shares in the last quarter. 78.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RDUS shares. StockNews.com lowered shares of Radius Recycling from a "hold" rating to a "sell" rating in a report on Friday. Seaport Res Ptn downgraded shares of Radius Recycling from a "neutral" rating to a "sell" rating in a research report on Wednesday, February 28th.

About Radius Recycling

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.